"This year will be all about AI.”
“And don’t forget podcasts!”
“And blockchain, live video, and social commerce.”
Every marketer has been a part of this meeting of roundtable buzzword BINGO. Everyone around the table suggests investing in a different part of the market’s most buzzworthy tech. All you have to do now is buy all these industry-leading technologies, give them all your “big data,” and you’ll immediately set your brand apart to lock in that sweet raise when the revenue comes rolling in. Easy.
In reality, you leave the meeting with more ideas than executable options, a list of technologies to invest in (which may not fit your marketing budget), and a mild case of “what the heck just happened.” Lucky for you, you’re not alone.
During his session at MarTech West in San Jose, Jason Mestrits, senior manager of data science and analytics at Nordstrom, shed light on the challenges facing marketers looking to follow a data-driven strategy. While tactics like nano-influencers and social commerce sound great to stakeholders (who love buzzwords), it’s important to remember these tactics are nothing but fluff without diagnosing data and creating a methodical data-driven strategy to back them up.